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A financial instrument pays you $60 per year for a total of 20 payments, starting today. If the discount rate is 6%, what should be

A financial instrument pays you $60 per year for a total of 20 payments, starting today. If the discount rate is 6%, what should be the price of this financial instrument today? Choose the closest answer.

$729.49

$680.14

$636.83

$785.12

$848.04

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